Cantor Fitzgerald Upgrades Public Storage (PSA) to Buy, Underperformance Provides Rare Opportunity
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Price: $152.40 -0.61%
Rating Summary:
6 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
6 Buy, 8 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade PSA Now!
Cantor Fitzgerald upgraded Public Storage (NYSE: PSA) from Hold to Buy with a price target of $160.00 (from $143.50).
The firm comments, "Relative YTD underperformance has provided a rare opportunity to accumulate shares of PSA at a modest premium to NAV. The Co's. high occupancy level should facilitate ever-stronger pricing power that should lead to above-average core NOI growth."
The firm adjusted 2012/2013 FFO/sh. ests. to $6.21 and $7.15, respectively, from $6.17 and $6.90. They adjusted 2012/2013 AFFO/sh. ests. to $6.26 and $6.74, respectively.
For an analyst ratings summary and ratings history on Public Storage click here. For more ratings news on Public Storage click here.
Shares of Public Storage closed at $142.52 yesterday, with a 52 week range of $124.66-$152.68.
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The firm comments, "Relative YTD underperformance has provided a rare opportunity to accumulate shares of PSA at a modest premium to NAV. The Co's. high occupancy level should facilitate ever-stronger pricing power that should lead to above-average core NOI growth."
The firm adjusted 2012/2013 FFO/sh. ests. to $6.21 and $7.15, respectively, from $6.17 and $6.90. They adjusted 2012/2013 AFFO/sh. ests. to $6.26 and $6.74, respectively.
For an analyst ratings summary and ratings history on Public Storage click here. For more ratings news on Public Storage click here.
Shares of Public Storage closed at $142.52 yesterday, with a 52 week range of $124.66-$152.68.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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